Dec 28, 2012 5:00pm PST
congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up any odd jobs as much as she can. >> it's been discouraging. i come in here three times a week and maybe i'll go to a friend's house and use their internet to look for work. >> reporter: long term unemployment benefits have been a life send. >> i can breathe a little while i'm looking for work. even though it's not the same amount that i was getting when i was working. >> but thomas is one of 400, 400,000 californians who will not be able to get medicare payments tomorrow. >> not being able to buy groceries, not being able to put food on the table, what am i supposed to do. a lot of family and friends giving m
Dec 24, 2012 5:00pm PST
. s&p down three. >>> what might happen next year if congress doesn't avoid the fiscal cliff. a person earning 50-$75,000 a year would see a hike of $2,400. >>> gas prices in the bay area and around california are still dropping. that is according to aaa. the trend will continue into the new year. the average price of a gallon is $3.60-in san francisco. san jose $3.49. oakland $3.48. california is reflecting a national trend as demand is low and supplies are high. >>> back to the developing news we showed you earlier. an apparent head on collision had forced police to shut down highway 84. that has now been reopened but as a result of that closure you can see the traffic backup. this is highway 84 in the livermore area. westbound lanes, severe back up. no word about the injuries, what the conditions are of the people involved in the accident but we are continuing to work the phones and get more details. you can see from our picture here, the incredible traffic back up. if you are planning to be around that area, you might try to take another route. >>> move on to weather now. after yes
Dec 26, 2012 5:00pm PST
tossed the fiscal cliff problem to the senate today. saying once the senate has a plan congress can go forward. john fowler investigated some of the latest moves and joins us live with what could happen a week from today. john? >> reporter: do mog, we get deep spending cuts and across- the-board tax hikes. con shull staffers told me -- congressional staffers told me today, expect a bumpy ride of the halls of power empty, although negotiateders and the president are back at work. >> at the very least let's agree right now on what we already agree on. >> reporter: an olive branch to the gop and carrot to corporate giants, including the bay area's google and apple. the administration now suggesting cutting corporate tax rates. the u.s. has among the world's highest. but closing loop holes that helped google, for instance, avoid $2 billion in taxes last year. >> corporations are concerned because they're not sure the extent to which exemptions would be eliminated. >> reporter: wells capital management senior economist gary slosberg is optimistic about a deal. >> i see it at least 50-50.